Bailout Debacle: Washington Finger-Pointing Begins


Remember after TARP failed the first time, and Republicans explained how they would’ve voted for a deal, but for Nancy Pelosi’s partisan floor speech? Well it looks like the Republicans are trying their best to cover their tracks, once agan, after last night’s auto bailout collapsed.

The argument from GOP Senator Bob Corker (Tennessee) stated just now on CNBC: We had a deal in place if only the UAW would accept a specific date by which they had to be wage-competitive with the “transplant” auto makers. Corker says the whole GOP caucus would’ve supported a deal if only the UAW would accept a specific date at some point in 2009, at which point the Sec. of labour could adjudicate whether wage competitiveness had been achieved.

No doubt the UAW will have its own say on how things went down, and we’re guessing that they’ll describe it a little bit differently than Corker did.

UAW chief Ron Gettelfinger will appear on CNBC at around 10:00 so we’ll get his spin shortly.